In Bridges U.S. Pat. No. 4,359,965, issued Nov. 23, 1982 and assigned to the same assignee as this invention, there is provided an arrangement for applying sealant to the tips or sidewalls of a fastener for "wet" installation thereof. It is inherent in the Bridges arrangement that the shank length of the fastener must be sufficiently long enough to permit the physical engagement between the fastener tip and the valve member for actuation or opening thereof. Thusly, once the Bridges sealant applicator is set-up on the fastener installation machine, the sealant applicator is workable so long as the shank length of the fasteners being installed is sufficient to actuate the valve in the sealant applicator. If installation of an intermittent or series of fasteners with insufficient shank lengths is required, any sealant application required necessitates hand application or a replacement of one size of the Bridges device for another sized unit through an additional machine set-up: either of which is time consuming resulting in a decrease of machine efficiency and quantity/time installation of fasteners.